It's very appropriate that I found this thread, as I have just received a letter from my PM asking us to resigned an updated contract with them????
Here's some of the info:
Letting fee of 5.5% (of annual rent) <- almost 3 weeks worth of rent
Re-leasing fee of $70 for 12 months lease, or $40 for 6 months
7.7% management fee
AND additional costs of marketing $100 when releasing property
I think this is ridiculous and will be asking for a copy of our original agreement (which is around 20 years old) and negotiating while also looking at other PMs. I'll be interested to find out what you guys think and if anyone else has experienced the same thing?